# Zhejiang University Science and Technology Venture Capital

Zhejiang University Science and Technology Venture Capital is a Venture Capital based in Hangzhou, China.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Hangzhou, China
- **Region:** Asia
- **Address:** Hangzhou, Zhejiang, China
- **Assets under management:** Undisclosed
- **Website:** zustvc.com.cn

## Regulatory record

- **Reports private funds:** No

## About

Zhejiang University Science and Technology Venture Capital is a Hangzhou-based investment company. It has invested in seven funds. Its geographic focus is Asia.

## Sectors

- Industrial Tech
- AI/ML
- ClimateTech
- Healthcare Services
- Advanced Materials
- Robotics & Automation

## Questions

### Who runs investment decisions at Zhejiang University Science and Technology Venture Capital?

Investment oversight flows through the parent Holding Group's board, which reflects the 80% ownership stake of the Zhejiang Provincial SASAC and the university's commercial-appointments committee. Day-to-day investment committee decisions are made in coordination with the university's technology-transfer office, which evaluates the scientific merit of spinout technologies before they reach the venture arm's portfolio. The firm's governance ties SASAC capital-allocation targets to the university's patent pipeline, creating a dual-approval process not typical of standalone venture firms.

### What investment stages does the firm typically target?

The firm spans the entire venture lifecycle — seed, start-up, expansion, and late-stage growth — but its engine room is the translation of lab-stage IP into seed and start-up rounds. It follows these initial positions into later rounds, often via co-investment structures with provincial funds that provide scale-up capital for industrial facilities, particularly in advanced chemicals and automation.

### Where does the underlying capital come from?

The majority of the firm's capital base originates with the Zhejiang Provincial SASAC, which holds an 80% stake in the parent Holding Group. Additional capital flows indirectly through the Zhejiang University Education Foundation and co-investment partnerships with state-owned enterprises such as Wuchan Zhongda Group. The firm's balance sheet is therefore a hybrid of provincial state capital and university-affiliated institutional assets.

### Which sectors does the firm explicitly invest in?

Confirmed exposure areas include advanced chemicals and materials — particularly fluorochemicals via the Quzhou fund — industrial automation, AI and machine learning applied to process control, healthcare services arising from the university's medical school, and dual-use technologies with both civilian and defense-adjacent applications. The firm targets sectors where Zhejiang University holds a national-research-lab advantage and where Zhejiang Province maintains explicit industrial-development priorities.

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Last updated: 2026-06-03T20:00:00.000Z

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